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Freddie Mac

NEWS
June 17, 2012
I am glad that Occupy Baltimore is focusing on the foreclosure problem ("Occupy turns to housing," June 13), but blaming "those who amassed fortunes by speculating on collateralized mortgage payments" is off the mark. There is plenty of blame to go around, starting with the homeowners who treated their houses as ATM machines and refinanced several times over in a rising market only to find themselves underwater when the housing bubble burst. What about the real estate speculators who flew in on the red-eye from California to buy slum properties in Baltimore, figuring they could sell them later at a profit?
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BUSINESS
Yvonne Wenger | May 4, 2012
Housing experts say homeowners can wait as long as nine months to get approval to sell their home as a short sale, and efforts are underway to push lenders to give a prompt answer. HouseLogic says homebuyers may find themselves in the position of having to send multiple requests to their lender to ask for approval for them to sell their house for less than they owe while a potential buyer waits in the wings. HouseLogic, a service offered by the National Association of Realtors, provides information on homeownership, such as taxes and insurance.
BUSINESS
Jamie Smith Hopkins | May 2, 2012
Internal Fannie Mae documents show the mortgage financier was about to launch a principal reduction program in 2010 after determining that it would save taxpayers hundreds of millions of dollars, a Baltimore congressman says -- contradicting claims by Fannie's regulator that such a move would be costly. U.S. Reps. Elijah E. Cummings of Baltimore and John F. Tierney of Massachusetts, Democrats who sit on the House Committee on Oversight & Government Reform, sent a joint letter Tuesday to regulator Edward DeMarco demanding more information about why the program was "mysteriously terminated" in July 2010.
NEWS
February 1, 2012
In its editorials and Dan Rodricks columns, The Sun continues to emphasize and underscore the big lie that banks or "predatory lenders" were the cause of the housing crash ("What took so long?" Jan. 26). "Predatory lending" is a term of relatively recent vintage, since prior generations tended to hold individuals responsible for the greed and ignorance that drove irresponsible decision-making. Far better to investigate Fannie Mae and Freddie Mac and Rep. Barney Frank for creating a bubble based on the idea that everyone should own a home.
NEWS
By Cal Thomas | November 22, 2011
Now it's Newt's turn. Having risen to the top in some opinion polls, the former speaker of the House is taking heat for large consulting fees paid to him by the government-sponsored mortgage company Freddie Mac for wisdom a New York Times editorial said was so simplistic it might have come from a fortune cookie. As Republican presidential candidates rise only to fall when their imperfections are brought to light, Republican voters risk disappointment in 2012 by playing the left's game on their turf and by their rules.
BUSINESS
Jay Hancock | November 21, 2011
Who says Democrats and Republicans can't agree on budget cuts? The supercommittee charged with reducing the deficit by more than $1 trillion by Wednesday seems to have failed. But both parties apparently agree that the chopping should start with tens of millions of dollars that continues to be paid to executives at Fannie Mae and Freddie Mac, the disgraced and bleeding mortgage giants. Last week the House Financial Services Committee voted, 52-4, to start paying Fannie/Freddie employees at more or less the same rate as other federal workers, which is essentially what they are. Alabama Republican and committee Chairman Spencer Bachus put it well, calling the pay "unfair, unreasonable and unjust to the taxpayers, whose assistance is the only thing keeping Fannie and Freddie afloat.
NEWS
October 25, 2011
In 2009, President Barack Obama lifted the $400 billion cap off the bailout money that Freddie Mac and Fannie Mae could pass on to the taxpayers. Apparently, $400 billion wasn't enough. Fannie and Freddie are publicly owned. You and I own them and all the debt they are accumulating and passing on. At times, the administration has allowed companies like Warren Buffett's Berkshire Hathaway to "buy their losses," a process by which a company gets to reduce their tax burden by giving cash in exchange for the bad debt.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | October 4, 2011
The federal agency overseeing Fannie Mae and Freddie Mac failed to stop abuses by the mortgage giants' network of foreclosure attorneys for years before problems surfaced in news accounts, according to a report released Tuesday. The inspector general for the Federal Housing Finance Agency looked into the agency's oversight of foreclosure attorneys for the mortgage financiers after Rep. Elijah E. Cummings in February sought an investigation of alleged abuses. The mortgage companies, which buy loans and mortgage securities, are regulated by the FHFA.
BUSINESS
By Eileen Ambrose | August 18, 2011
Mortgage giant Freddie Max reports the interest rate on 30-year mortgages have fallen to their lowest levels in more than 50 years. The 30-year fixed-rate mortgage averaged 4.15 percent for the week ending today.  A 15-year fixed rate loan fell to 3.36 percent. Freddie Mac's chief economist credits the Fed's pledge to keep rates low for two years as one reason for the favorable terms. Plus, jitters over the European debt crisis also contributed to low rates.  
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | June 1, 2011
U.S. Rep. Elijah E. Cummings is asking the agency overseeing Fannie Mae why the mortgage financier is letting an embattled law firm handle its Maryland foreclosures despite problems documented by sister company Freddie Mac. The Baltimore Democrat — in a letter to the Federal Housing Finance Agency late Wednesday — says information the regulator provided him in May about the Shapiro & Burson law firm "reveals a much more egregious level of...
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